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The Employees' Retirement Systems (ERS) provides three retirement savings options for eligible Retirement Savings Plan employees.

Employees are mandated to elect one of two options (termed “memberships”) and the third savings option is a voluntary election.

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Eligibility and memberships

You are eligible to participate if you are:

A permanent officer or employee that is newly hired or rehired on or after July 1, 2014 by either:
- Mayor and City Council of Baltimore
- Baltimore City Public Schools and you are not eligible for membership in the Maryland State Retirement and Pension System
- Enoch Pratt Free Library and you are not eligible for membership in the Maryland State Retirement and Pension System
In a job classification that requires more than 500 hours of work and you are not:
- an elected official
- eligible for membership in the Baltimore City Fire and Police Employees' Retirement System
- an employee of the Baltimore Museum of Art or the Walters Art Museum

Election Type	Hybrid Membership	Non-Hybrid Membership
Mandatory election - 401(a)	ERS Defined Benefit Plan AND a 401(a) defined contribution retirement plan	401(a) Defined Contribution Plan
Voluntary election - 457(b)	457(b) Deferred Compensation Plan (DCP)	457(b) Deferred Compensation Plan (DCP) with an employer match

Plan specifics

Plan Type	Hybrid Membership	Non-Hybrid Membership
Defined Benefit Plan (ERS Class D)	Formula: 1% X your years of pension service X your average final compensation. This formula may vary for participants who meet certain age and years of service requirements. Contribution requirement:* You must contribute 5% of earnable compensation after you have completed one year of service.	NA
401(a) Defined Contribution Account	Generally, your employer contributes 3% of your earnable compensation after 1 year of service. This contribution can be reduced to 1.5% of your earnable compensation based on the funding status of the ERS.	You must contribute 5% of your earnable compensation commencing after 180 days of service and your employer will contribute 4% of your earnable compensation.
457(b) Deferred Compensation Plan (DCP)	Minimum contribution is $10 per pay period, not to exceed $22,500 this calendar year for those under age 50. For those 50 and older, the maximum contribution is $30,000.	Minimum contribution is $10 per pay period, not to exceed $22,500 this calendar year for those under age 50. For those 50 and older, the maximum contribution is $30,000. Your employer matches 50% of any contributions up to 1% of earnable compensation per pay period. Note: if you elect this option, this means that the additional 1% match brings the total employer contribution to 5%.
457(b) Deferred Compensation Plan (DCP)	Special 457(b) Catch-up Provision: In the three calendar years prior to normal retirement age, you may be able to contribute up to twice the annual contribution limit to the 457(b) DCP ($45,000 this calendar year).

Vesting and distributions

Vesting	Hybrid Membership	Non-Hybrid Membership
Defined Benefit Plan (ERS Class D)	You are vested after 10 years of credited service or upon satisfying the eligibility criteria for early retirement or normal retirement.	NA Note: if you are rehired after having a vested benefit with another City of Baltimore retirement system, you are automatically enrolled in the 401(a) as a Non-Hybrid participant.
401(a) Defined Contribution	You become 100% vested: - after 5 years of eligible vesting service - if you reach normal retirement age (age 65) and are still employed, or - upon disability or death, while an active employee	You are always 100% vested in your 5% employee contribution portion of your 401(a) account balance. You become 100% vested in the employer contribution portion of your 401(a) account: - after 5 years of eligible vesting service - if you reach normal retirement age (age 65) and are still employed, or - upon disability or death, while an active employee
457(b) Deferred Compensation Plan (DCP)	You are always 100% vested.

Distributions	Hybrid Membership	Non-Hybrid Membership
While employed	No loans or in-service withdrawals are permitted.
After separation from service and before you are vested	If you separate from service before you are vested in your defined benefit component, you will receive the contributions you made to the ERS, plus interest in a lump sum distribution. The 401(a) employer sub-account is forfeited in its entirety.*	The 401(a) employer sub-account is forfeited in its entirety.* Your 401(a) account assets remain vested. Your 457(b) account assets remain vested.
After separation from service and fully vested	Timing of ERS Defined Benefit Plan distributions: If you separate from service after you are vested but before you are eligible for early retirement, you may receive a deferred vested benefit at a later date. If you separate from service after you are eligible for early or normal retirement, you may receive an immediate benefit. The following Deferred Compensation and 401(a) distribution options are available: Leave your account with the Plan to continue to receive the same low cost solutions and personal service. Receive your vested account balance as a lump sum or in installments, or convert your account balances to an annuity. Move your account balance to an Individual Retirement Account (IRA) or another qualified employer plan.	The following Deferred Compensation and 401(a) distribution options are available: Leave your account(s) with the Plan to continue to receive the same low cost solutions and personal service. Receive your vested account balance as a lump sum or in installments, or convert your account balances to an annuity. Move your account balance to an Individual Retirement Account (IRA) or another qualified employer plan.

* Unless you return to service within 30 days of your separation date.